HURLBATT said financial abuse can be defined in many ways and it can be difficult to notice at first.
“Financial abuse is where the financial independence of a person is taken away. The abuser controls the ability of the victim to earn, use and maintain finances. Many times we see women who were once well educated with high profile jobs, lose everything because their partners convinced them to stop working. This starts out subtly but, eventually, the victim is completely controlled by the abuser. They can’t buy anything without the permission of the abuser, they do not have access to finances other then what the abuser has assigned to them,” said Hurlbatt.
“This puts the victim in a bad position as they have absolutely no control over their own lives. This is where the financial abuse turns into physical and sexual abuse. Now that the abuser ‘owns’ the victim, they can do whatever they want to the victim. They know the victim will never be able to leave. Often children become involved. Once children are involved, it is even more difficult for the victim to leave, as they do not have the resources to provide for their kids once alone,” she said.
Hurlbatt noted that financial abuse can occur in various relationships. “Financial abuse can occur in any form. Parents financially abuse their children. Children financially abuse their older parents. Financial abuse of the elderly who cannot defend themselves. We see financial abuse in every walk of life,” she said.
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What to do:
Hurlbatt shared these tips to help victims of financial abuse get back on their feet.
“Financial abuse is something I see far too often and it is one of the reasons I decided to get involved in finance. Women in this situation have to make the decision to no longer be controlled by anyone. Now, this is easier said than done, where will they go and what will they do?”
1. Find a place of safety
Hurlbatt encouraged victims to find a safe place where they won’t be accessible to their abuser.
“This can be a family member or a friend. Remember, there are many organiSations out there that can also help you in your time of need,” she said.
2. Try and build up a small nest egg
“Even if it is R10 a week, try and put some money away where the abuser cannot get hold of it. This nest egg will help you get where you need to go when you leave,” said Hurlbatt.
3. Reach out to an organisation
Hurlbatt encouraged victims to reach out to organisations such as Stand United SA, Grace Family Church and The Umgeni Community Empowerment Centre (UCEC).”They specialise in getting victims and their kids out of abusive situations safely. They also help victims get back on their feet,” she said.
Call the Umgeni Community Empowerment Centre on 073 114 89 69, or visit their office at 16 Mona Road, Durban Central.
How to spot red flags
While financial abuse often creeps in slowly, there are a few warning signs to watch out for. Hurlbatt poses several questions that can help community members to spot red flags:
1. Does your partner try to control your finances or spending habits?
2. Is there any manipulation taking place surrounding your decisions?
3. Does your partner criticise your job or encourage you to leave your job?
4. Does your partner make big financial decisions without you?
What do good finances look like?
For Hurlbatt, a good relationship is one where each person has the freedom to earn an income and make financial decisions without manipulation.
“Each person should have their own safety net. In an ideal world you should have three times your monthly income saved at all times. This is for emergencies and it allows you to be independent without having to reach out for help from others,” she said.
Hurlbatt shared these tips to improve financial stability:
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1. Save
“Having emergency cash on hand is something most South Africans don’t have. When something goes wrong and they need cash, they take out loans and get into debt. This can eventually lead to financial abuse. This is avoidable by saving a little bit each month,” she said.
2. Medical aid
“Women need medical aid. This protects them from unnecessary debt and costs down the line. They do not need to rely on anyone to take care of them if something goes wrong. Hospital plans are a great starting point,” said Hurlbatt.
3. Retirement savings
“It is important to start saving towards retirement from the day you start working. Many South Africans cannot afford to retire and most of the time it is the responsibility of the family to look after them,” she said.
4. Financial education
“Whether you are married or single, working or not, earning an income or not, you need to understand your own finances and the finances of your partner,” said Hurlbatt.
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